Nearly 5,000 jobs at risk as UK fashion chains face closure

  • Around 4,700 jobs are at risk as the struggling Edinburgh Woollen Mill Group said Thursday it had failed to find a buyer for its fashion chains Peacocks and Jaeger.
  • UK fashion sales have plummeted during the pandemic, and England’s second national lockdown, which means all non-essential stores have to shut, could make this even worse.
  • The administrators in charge of the chains remain hopeful that a deal can be secured, and added that said no redundancies or store closures have been confirmed yet.
  • Visit Business Insider’s homepage for more stories.

Nearly 5,000 jobs are at risk after the owner of British fashion chains Peacocks and Jaeger said Thursday it had failed to find a buyer for the troubled businesses, as the industry continues to struggle with dwindling sales amid the coronavirus pandemic.

The two chains, which are owned by the struggling Edinburgh Woollen Mill Group (EWM) retailing empire, have been put into a form of bankruptcy protection after a two-week deadline to find a buyer passed.

A spokesperson for EWM said the deterioration of the retail sector during the current, second lockdown in England had made the sale process “more complex” than hoped. During the lockdown, which is due to last until December 2, all shops selling items deemed as non-essential, such as clothes and books, have been required to close.

As a result, the spokesperson said the company could no longer extend a so-called standstill arrangement that Britain’s High Court first imposed six weeks ago and allows the chains to carry on doing business.

“Therefore, as directors, we have taken the desperately difficult decision to place Peacocks and Jaeger into administration while those talks continue,” the spokesperson said.

The administrators put in charge of the chains remain hopeful that a deal can be secured.

“Jaeger and Peacocks are attractive brands that have suffered the well-known challenges that many retailers face at present,” said Tony Wright, joint administrator and a partner at insolvency firm FRP Advisory.

“We are in advanced discussions with a number of parties and working hard to secure a future for both businesses.”

Read more: Luxury fashion is surging on TikTok, but turning Gen-Z viewers into customers is a complicated task for brands

Cardiff-based Peacocks operates 423 stores with 4,369 staff, while Jaeger runs 76 stores and concessions and employs 347 staff.

The administrators said no redundancies or store closures have been confirmed yet.

EWM Group had already placed its Edinburgh Woollen Mill and Ponden Home businesses into administration earlier this month.

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Nearly 5,000 Jobs at Risk as UK Fashion Chains Face Closure | Business News

LONDON (AP) — Nearly 5,000 jobs are at risk after the owner of British fashion chains Peacocks and Jaeger said Thursday it had failed to find a buyer for the troubled businesses, which like others in the sector are reeling from the coronavirus pandemic.

The two chains, which are owned by the struggling EWM retailing empire, have been put into a form of bankruptcy protection after a two-week deadline to find a buyer passed.

A spokesperson for EWM said the deterioration of the retail sector during the current, second lockdown in England had made the sale process “more complex” than hoped. During the lockdown, which is due to last until Dec. 2, all shops selling items deemed as non-essential, such as clothes and books, have been required to close.

As a result, the spokesperson said the company could no longer extend a so-called standstill arrangement that Britain’s High Court first imposed six weeks ago and allows the chains to carry on doing business.

“Therefore, as directors, we have taken the desperately difficult decision to place Peacocks and Jaeger into administration while those talks continue,” the spokesperson said.

The administrators put in charge of the chains remain hopeful that a deal can be secured.

“Jaeger and Peacocks are attractive brands that have suffered the well-known challenges that many retailers face at present,” said Tony Wright, joint administrator and a partner at insolvency firm FRP Advisory. “We are in advanced discussions with a number of parties and working hard to secure a future for both businesses.”

Cardiff-based Peacocks operates 423 stores with 4,369 staff, while Jaeger runs 76 stores and concessions and employs 347 staff.

The administrators said no redundancies or store closures have been confirmed yet.

EWM Group had already placed its Edinburgh Woollen Mill and Ponden Home businesses into administration earlier this month.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Border closure can’t keep grandparents from Canadian wedding | National News

ST. STEPHEN, New Brunswick (AP) — With the border closed, a Canadian couple still found a way for their grandparents from Maine to see their waterfront wedding.

It involved a boat used for hauling lobster traps, naturally.

Alex Leckie and Lindsay Clowes were married on a wharf in St. Stephen, New Brunswick, while the bride’s grandparents and a few other relatives from Calais, Maine, watched from a boat in the St. Croix river that divides the countries. Other families and friends watched from Maine.

“It was happy and emotional and overwhelming,” Clowes said of seeing family and friends on both sides of the border.

The idea for the wedding was hatched after the couple had to cancel a summer wedding in Nova Scotia because of the closed border and travel restrictions. The St. Stephen wedding allowed families on both sides of the border to participate. Clowes grew up in Calais, Maine, and attended school in St. Stephen, New Brunswick.

“To sum it up, my wife came up with the hashtag, #loveisnotcancelled,” said Chris Bernardini, whose wife, Leslie, is mother of the bride.

Bernardini and his wife, from Calais, were able to cross the border and quarantine in Canada before the wedding because both hold dual citizenships.

But it took some Maine ingenuity for other family members to be able to see the wedding. That involved using the 19-foot skiff used for hauling lobster traps that belonged to Bernardini’s father.

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Border closure can’t keep grandparents from Canadian wedding

“It was happy and emotional and overwhelming,” Clowes said of seeing family and friends on both sides of the border.

The idea for the wedding was hatched after the couple had to cancel a summer wedding in Nova Scotia because of the closed border and travel restrictions. The St. Stephen wedding allowed families on both sides of the border to participate. Clowes grew up in Calais, Maine, and attended school in St. Stephen, New Brunswick.

“To sum it up, my wife came up with the hashtag, #loveisnotcancelled,” said Chris Bernardini, whose wife, Leslie, is mother of the bride.

Bernardini and his wife, from Calais, were able to cross the border and quarantine in Canada before the wedding because both hold dual citizenships.

But it took some Maine ingenuity for other family members to be able to see the wedding. That involved using the 19-foot skiff used for hauling lobster traps that belonged to Bernardini’s father.

The bride’s grandparents, a great-aunt, and an aunt and uncle were in the boat, while other Mainers watched from shore.

For a honeymoon, the couple has purchased a camper that they’ve using for day trips in the Canadian Maritimes.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

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Border closure can’t keep grandparents in Maine from Canadian wedding

ST. STEPHEN, New Brunswick — With the border closed, a Canadian couple still found a way for their grandparents from Maine to see their waterfront wedding.

It involved a boat used for hauling lobster traps, naturally.

Alex Leckie and Lindsay Clowes were married on a wharf in St. Stephen, New Brunswick, while their grandparents and a few other relatives from Calais watched from a boat in the St. Croix river that divides the countries. Other families and friends watched from Maine.

“It was happy and emotional and overwhelming,” Clowes said of seeing family and friends on both sides of the border.

The idea for the wedding was hatched after the couple had to cancel a summer wedding in Nova Scotia because of the closed border and travel restrictions. The St. Stephen wedding allowed families on both sides of the border to participate. Clowes grew up in Calais and attended school in St. Stephen, New Brunswick.

“To sum it up, my wife came up with the hashtag, #loveisnotcancelled,” said Chris Bernardini, whose wife, Leslie, is mother of the bride.

Bernardini and his wife, from Calais, were able to cross the border and quarantine in Canada before the wedding because both hold dual citizenships.

But it took some Maine ingenuity for other family members to be able to see the wedding. That involved using the 19-foot skiff used for hauling lobster traps that belonged to Bernardini’s father.

The bride’s grandparents, a great-aunt, and an aunt and uncle were in the boat, while other Mainers watched from shore.

For a honeymoon, the couple has purchased a camper that they’re using for day trips in the Canadian Maritimes.

Source Article

Read more

Border closure can’t keep grandparents from Canadian wedding

ST. STEPHEN, New Brunswick — With the border closed, a Canadian couple still found a way for their grandparents from Maine to see their waterfront wedding.

It involved a boat used for hauling lobster traps, naturally.

Alex Leckie and Lindsay Clowes were married on a wharf in St. Stephen, New Brunswick, while their grandparents and a few other relatives from Calais, Maine, watched from a boat in the St. Croix river that divides the countries. Other families and friends watched from Maine.

“It was happy and emotional and overwhelming,” Clowes said of seeing family and friends on both sides of the border.

The idea for the wedding was hatched after the couple had to cancel a summer wedding in Nova Scotia because of the closed border and travel restrictions. The St. Stephen wedding allowed families on both sides of the border to participate. Clowes grew up in Calais, Maine, and attended school in St. Stephen, New Brunswick.

“To sum it up, my wife came up with the hashtag, #loveisnotcancelled,” said Chris Bernardini, whose wife, Leslie, is mother of the bride.

Bernardini and his wife, from Calais, were able to cross the border and quarantine in Canada before the wedding because both hold dual citizenships.

But it took some Maine ingenuity for other family members to be able to see the wedding. That involved using the 19-foot skiff used for hauling lobster traps that belonged to Bernardini’s father.

The bride’s grandparents, a great-aunt, and an aunt and uncle were in the boat, while other Mainers watched from shore.

For a honeymoon, the couple has purchased a camper that they’ve using for day trips in the Canadian Maritimes.

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